Commentary and Research Papers
September 10, 2026
2026
U.S. equities rebounded from a weak July to post modest gains in August, overcoming periodic volatility related to inflation, interest rates, and geopolitical developments. Corporate fundamentals remained exceptionally strong, with second-quarter earnings for S&P 500 companies increasing approximately 34% from the prior year - the strongest earnings growth since 2021. Encouragingly, earnings revisions were once again broadly positive across large, mid and small companies. The economic backdrop also remained supportive, as continued expansion in US manufacturing activity, healthy consumer spending and a resilient labor market reinforced confidence in the durability of the economic expansion.
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August 31, 2026
2026
Small capitalization stocks may now provide greater diversification and less valuation risk than many of the market’s largest ‘blue chip” companies. Moreover, it appears to us that we’re only in the beginning stages of a change in leadership, and it is possible small capitalization stocks could outperform large stocks for the next few years.
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August 14, 2026
2026
Two reported deals in the last two weeks told us the same thing: everything we own is worth more than we thought. Earlier this week, Fenway Sports Group agreed to sell roughly 30% of Liverpool at a reported $8 billion valuation. Later in the week, the Los Angeles Lakers changed hands at a $12.5 billion valuation—just fourteen months after the franchise sold for a then-record $10 billion. In less than a year, the highest price ever paid for an American sports franchise was surpassed by 25%.
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August 12, 2026
2026
As healthcare costs continue to rise and retirement planning becomes more complex, understanding the financial decisions that can protect your future is more important than ever.
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August 12, 2026
2026
Stocks experienced a more volatile month in July as investors weighed another exceptionally strong corporate earnings season against growing questions surrounding the timing and magnitude of returns on the Technology industry’s unprecedented investment in AI infrastructure. Although the U.S. economy continued to demonstrate remarkable resilience through healthy labor markets, solid consumer spending, and expanding business activity, investors became increasingly selective within the Technology sector.
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